Housing Wire

MAY 23, 2022

Pink slips will arrive for California employees at six offices in Thousand Oaks, Pasadena, Roseville, Westlake Village, Agoura Hills, and Moorpark. The latest round of WARN notices will impact 59 loan officers in the Thousand Oaks, Pasadena, and Roseville offices. Pennymac reported a pretax income of $234.5

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Housing Wire

MARCH 24, 2022

Loan officers on Thursday told HousingWire that rate locks on 30-year fixed-rate mortgages were coming in around 4.75%, about 30 basis points higher than what Freddie Mac’s weekly PMMS report found.

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FHA loan Fixed-rate mortgage Loan Officer Principal 518

Housing Wire

AUGUST 29, 2024

The CFPB alleges that NewDay provided borrowers with “net benefit worksheets”—which show the financial advantage of a transaction—misstating the changes in the monthly mortgage payments before and after the refinancing loan. loans and 90% refinance loans. mortgage industry.”

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Principal Loans Loan Officer Mortgages 434

Housing Wire

MAY 25, 2021

Mortgages would be subject to FHA loan limits. percent of the principal, which could be financed, and would not pay a monthly insurance premium. The benefit is modeled on the widely used home loan program for veterans, which is administered by the Department of Veterans Affairs.

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FHA loan VA loan Loans Loan Officer 493

Housing Wire

JULY 8, 2024

In February, Newrez restructured its distributed retail mortgage business, cutting regional and divisional managers and reducing loan officers’ compensation. The company owned $537 billion in unpaid principal balance (UPB) of servicing at the end of March. 2. Newrez originated $10.8

Loan Officer 445

Loan Officer Principal Finance Mortgages 445

Housing Wire

JUNE 5, 2024

Top mortgage technology executives say their companies are embracing artificial intelligence (AI) in their operations but still relying on human decision-making to sell loans. “There’s one question every CEO, CTO, CIO, loan officer, processor, underwriter, they all ask the same thing: will AI replace my job?”

Mortgages 459

Mortgages Loan Officer Technology Loans 459

Housing Wire

AUGUST 6, 2024

We opportunistically took advantage of strong market conditions and monetized approximately $29 billion of unpaid principal balance of our mortgage servicing rights. As a result of the smaller portfolio, we expect servicing revenue to decrease somewhat going forward,” Hayes said.

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Purchase and sale agreement Principal Loan Officer Mortgages 448

Housing Wire

DECEMBER 29, 2023

HousingWire interviewed a dozen loan officers and mortgage executives about their strategies for 2024, which mortgage products they expect to be in demand, and the magic rate needed to get sellers and buyers back in the market. A successful loan officer in this market needs a very capable qualified assistant.

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Mortgages Loan Officer Loans Equity 476

Housing Wire

AUGUST 21, 2024

David Heilman, principal for HomeGrown Financial in Mount Pleasant, South Carolina , didn’t feel like he had to shake up his approach to working with seniors when he became involved in the reverse mortgage industry. And I think this is where most loan officers struggle to transition — you’ve got to have a ton of patience with this clientele.”

Mortgages 435

Mortgages Loan Officer Principal Industrial 435

Housing Wire

JUNE 11, 2021

At the Mortgage Bankers Association ‘s spring virtual conference, speakers warned that narrowing profit margins could make for some difficult conversations between executives and loan officers. Lenders need to prepare for margin compression “because it’s likely to be significantly worse” than 2018, McAuley said.

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Loan Officer Principal Loans Mortgages 488

Housing Wire

MARCH 19, 2024

It also included reduced compensation for loan officers, sources told HousingWire in February. Nierenberg has been the president and CEO of Rithm since November 2013 and chairman since May 2016.

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Equity Loan Officer Principal Loans 445

Housing Wire

APRIL 24, 2024

“I don’t do that so much internally right now because we’ve got this separation in retail and wholesale, but my job is to do that for the partners and for the 86,000 loan officers out there not offering reverse mortgages. Technically, it encompasses brokers, principal agents and closed loan sellers,” he said. “We

Mortgages 447

Mortgages Loan Officer Loans Principal 447

Housing Wire

APRIL 1, 2024

To start out, our comp plan was based on the production and the [unpaid principal balances (UPBs)]. I think loan officers are getting used to the rate environment as it is now, versus hanging on to the idea that they’re going to get better and things will pick up.” Two years later, the UPB has diminished right.

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Sales Loan Officer Principal Loans 448

Housing Wire

JUNE 2, 2022

NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021. Demetria McCain, HUD’s principal deputy assistant secretary for fair housing and equal opportunity, said it is “imperative” that lenders comply with fair housing laws.

Mortgages 418

Mortgages Loan Officer Lending Principal 418

Housing Wire

MAY 10, 2022

billion in the unpaid principal balance of MSRs as of March 31, 2022 compared to $221 billion exactly a year earlier. The broker channel continues to grow: 35,000 unique loan officers submitted loans to UWM in 2021, and we think we will have more unique loan officers submitting to us in 2022.”. “The

Mortgages 397

Mortgages Loan Officer Loans Principal 397

Housing Wire

MAY 2, 2022

issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more than half of Interfirst’s entire staff. Six months ago Interfirst Mortgage Co. Interfirst boasted of its ability to train people with no background in mortgage through a rigorous training course.

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Loan Officer Principal Loans Technology 397

Housing Wire

OCTOBER 13, 2021

Principals of the private holding company StoicLane led the round, the firms said on Wednesday. Funds managed by Oaktree Capital Management , MFA Financia l, various family offices, and other strategic investors invested through a StoicLane’s special purpose vehicle, StoicLane said.

Mortgages 428

Mortgages Loan Officer Investor Loans 428

Housing Wire

JULY 18, 2023

Whitfield is the founding principal of the Whitfield Property Group and he recorded $33 million in sales volume in 2022. With a decade of experience as an agent, Wilbanks entered the industry after working as a residential mortgage loan officer. Whitfield and Wilbanks are both leaving Compass to join The Agency.

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Agents Loan Officer Principal Brokerage 370

Housing Wire

MAY 26, 2022

Homepoint’s jumbo ARMs have a seven- or 10-year fixed-rate period and the loan adjusts every six months, according to Homepoint. Credit Union of Southern California’ s interest-only ARMs, in which the borrower delays paying down any principal for a period of time, are now available as purchase or refinance loans.

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Loan Officer Loans Principal Mortgages 418

Housing Wire

SEPTEMBER 22, 2022

Marty Green, principal with mortgage law firm Polunsky Beitel Green , described increasing affordability pressures in the housing market as “throwing cold water on what was a frenzied residential real estate market.”. According to the NAR, there were 1.28 million existing homes on the market in August and would take 3.2

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. There’s still demand for homes, loan officers told HousingWire. “I

Marketing 448

Marketing Fixed-rate mortgage Loan Officer Pre-approval 448

Housing Wire

MAY 1, 2023

Name Job Title Company Name Alayna Gardner Director of Sales and Marketing LodeStar Software Solutions Alex Boand Managing Director of Correspondent Group Sales Pennymac Alison Flinn Chief of Staff Development Amherst Amanda Morrow Director of Investor Relations Atlantic Bay Mortgage Company Andres Munar Owner and President Co/LAB Lending Andrew Jewett (..)

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Loan Officer Principal Title Lending 370

Housing Wire

FEBRUARY 9, 2024

Last year was a challenging one for reverse mortgage business activity, and it likely hit no one harder than the industry’s front-line loan originators. Running the numbers for people illuminated terms that revealed either zero or not enough benefit based on rates and principal limit factors, but that has slowly started to shift.

Mortgages 459

Mortgages Principal Loans Loan Officer 459

Housing Wire

FEBRUARY 7, 2023

of the balance of a loan being assumed would be fair to both the borrower and the servicer.” ” Other stakeholders want even higher fees so they can compensate loan officers. And as a result, few mortgage loan officers have experience or comfort with the product. Tozer suggested “a fee of 1.3%

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FHA loan Mortgages Loan Officer VA loan 397

Housing Wire

JANUARY 26, 2022

Lenders across the board felt that they got truly high ROI from these solutions,” said Sam Ryder, principal at LLR Partners. Sales Boomerang provides automated borrower intelligence, delivering real-time customer insights to lenders, who can then offer “the right loan to borrowers at the right time,” according to CEO Alex Kutsishin.

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Investor Sales Mortgages Loan Officer 394

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. They own the home with their name on the title, as with any mortgage, traditional or reverse.

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Finance Seller concession Loan Officer Loans 482

Housing Wire

NOVEMBER 10, 2021

Meanwhile, OriginPoint , its JV with mortgage lender Guaranteed Rate , has been obtained operation licenses in six states and the company says it is busy hiring loan officers as it prepares to originate its first mortgage in this next quarter, well ahead of the projected start date.

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Title Brokerage Loan Officer Principal 418

Housing Wire

AUGUST 12, 2024

“When brokers work with American Senior Lending Wholesale Division, they benefit from our internal account executives, who are mostly licensed loan officers. In the last year, we’ve brought on a few principal agent partners, which was a good experience that helped us grow from just [third-party origination (TPO)].”

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Lending Loan Officer Branding Principal 459

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. Loan officer headcount in the industry could decline by 45% from last year’s estimated 353,120 LOs nationwide, which expanded by 34% from 2019, according to projections from Stratmor Group. over asking price. High octane stuff.

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Marketing Equity Loans Bankruptcy 529

Housing Wire

SEPTEMBER 30, 2022

To convince borrowers to take out a mortgage loan, some loan officers and lenders are highlighting how home prices are more affordable now than last year – and the ability of a borrower to refinance the loan when rates decline again. There is more inventory relative to demand, and deals can be found.

Mortgages 482

Mortgages Fixed-rate mortgage Loans Loan Officer 482

Housing Wire

MAY 16, 2022

million) are among the non-bank lenders that benefited from the sale of MSRs, offsetting the decline in closed loan volume in the first quarter of 2022. UWM, the nation’s largest wholesale lender, sold MSR on loans with an aggregate unpaid principal balance of about $56.6 million) and Homepoint ($11.9 UWM had $303.4

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Principal Banks Loans Lending 397

Housing Wire

FEBRUARY 1, 2022

Purchase loans grew 39% last year to $39 billion, with the number of retail loan officers up by 18%. billion in unpaid principal balance. The company recently announced it is bringing the servicing of FHA, VA and USDA funded Ginnie Mae loans in-house. The company achieved a market share of 3.4%

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Loans Loan Officer Principal Sales 370

Housing Wire

FEBRUARY 7, 2024

billion in consumer loans from Goldman Sachs and closed the acquisition of Sculptor Capital Management , bringing in $33 billion in assets under management. The company also announced a deal to acquire Computershare Mortgage Services , including Specialized Loan Servicing (SLS), adding $136 billion in unpaid principal balance (UPB) of MSR.

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Loan Officer Loans Mortgages Principal 448

Housing Wire

NOVEMBER 7, 2023

We are excited to partner with Newrez because their vision, and more importantly, their values fit nicely with our own,” Al Donohue, the operating principal, said in a statement on Monday. “We It placed No. 63 among the 500 best brokerages by volume. “We

Mortgages 435

Mortgages Principal Brokerage Lending 435

Housing Wire

MARCH 20, 2024

I’ve also been working on the HECM Toolbox, which is really just for lenders and loan officers who haven’t really got to the point where they want to grow their business, and also for lenders that are in the [mortgage] space but not yet in the reverse mortgage space. “And

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Development Industrial Mortgages Loans 459

Housing Wire

NOVEMBER 7, 2023

VA borrowers will be the hardest hit if they have to shoulder buyer-side commissions, said Jon Overfelt, director of sales and principal at American Security Mortgage Corp. “VA loans are probably the best loans on the market. “This is going to be a massive needle mover,” Grant said. “I

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VA loan Agents Seller concession FHA loan 482

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market.

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Mortgages Marketing Loans Banks 397